Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Great idea, just as long as the house would cash flow after the cash out refinance, ALL expenses are conservatively estimated, and you keep some cash reserves to handle any unexpected capex, vacancy, etc.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

It is a lot harder to find enough profitable deals in the area to accumulate a sizable portfolio. 

David StoneElma, WATHE NUMBERS: Our purchase price in 2009:  $155,000Currently owe:  $136,000Mortgage:  $1080 / mo (PITI)Rent:  $1000 ($100 above median, but house is newer condition than neighborhood), Tenant pays all utilitiesProperty:  3 bed, 2.5 bath, 1576 sq ft, built 2008, located just outside Shelton, WAFair market value:  $166,000 according to Zillow private estimate of comps I am looking to make a minimum of $35,000 from the sale of the property to make it worth itBACKGROUND:This certain property was not originally purchased for a rental.  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookCouple good reads 9 Reasons You Couldn't Find A Buyer For Your Wholesale Deal Don't Start Wholesaling Until You Read This: Wholesale Advice from a Fix and Flipper How to Start Wholesaling: Getting Past The Education and Into the FieldDownload BP’s newest book here some good due diligence in Chapter 10.

I think that good people skills is a very under estimated skill in this industry.  

If not then please take a screen shot of what you're referring to.Vacancy and repair reserve are just estimates because you don't know if a tenant will stay for 1 or more years, and things do break.